LA-based private equity firm Meaningful Partners has acquired Fitness Ventures, a US health and wellness platform and the second largest franchisee of Crunch Fitness.
Fitness Ventures was founded by CEO Brian Hibbard in 2016 and currently owns and operates 47 locations across the US.
Brian Hibbard, CEO of Fitness Ventures, commented: “We are extremely excited about our partnership with Meaningful Partners as we continue to execute on our de novo and M&A growth strategy.
“The Meaningful team’s background and experience in rapid scaling of multi-unit locations nationally makes them an ideal partner for our next growth phase. Our team is energized and excited to get to work.”
Meaningful Partners was advised by Greenberg Traurig and Latham & Watkins, while Fitness Ventures was advised by Harris Williams and MOK Advisors. Debt for the transaction was financed by Ares Management’s credit group.
